Fed policymakers signal no hurry to raise interest rates

Three Federal Reserve policymakers have expressed the view there is no hurry to raise US interest rates in the wake of the UK decision to leave the EU, despite signs the US economy is near full employment.

Ahead of the next Fed policy meeting on July 26-27, a core group are now happy to keep interest rates unchanged, potentially for months, whereas just last month, most Fed officials signalled they expected to raise rates at least twice this year.

St Louis Fed president James Bullard this week repeated his position only a single rate rise is needed for the next couple of years unless some unexpected shock moves the economy to a better or worse state.